Financial Adviser Hastings

Pensions, savings and benefits update from Autumn budget

Total welfare spending is set to be £1bn lower and the 55% ‘death tax’ on certain pension funds is to be abolished so that people can pass on their pension pots tax-free. In addition, in a further measure that is deemed by the Chancellor to be “fairness for savers” the £15,000 ISA allowance will rise to £15,240 and will also be tax-free if it is inherited. Read more from the Autumn Budget Statement here

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